Fifth Third Bancorp (NASDAQ:FITB) Given Average Recommendation of "Moderate Buy" by Brokerages

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) has earned an average rating of "Moderate Buy" from the nineteen brokerages that are covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $45.92.

A number of brokerages have recently issued reports on FITB. Barclays upped their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Piper Sandler boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st.

Fifth Third Bancorp Stock Up 2.8 %

FITB stock traded up $1.16 during trading on Tuesday, hitting $42.89. 6,372,435 shares of the stock traded hands, compared to its average volume of 5,123,160. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm's 50 day moving average is $45.17 and its two-hundred day moving average is $42.70.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 49.17%.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fifth Third Bancorp

Several institutional investors have recently bought and sold shares of FITB. Pinnacle Bancorp Inc. raised its position in shares of Fifth Third Bancorp by 51.7% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,100 shares of the financial services provider's stock valued at $47,000 after buying an additional 375 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Fifth Third Bancorp by 17.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,404 shares of the financial services provider's stock valued at $482,000 after purchasing an additional 1,695 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Fifth Third Bancorp by 8.8% in the 4th quarter. Park Avenue Securities LLC now owns 66,247 shares of the financial services provider's stock worth $2,801,000 after purchasing an additional 5,377 shares during the period. Rockland Trust Co. bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $217,000. Finally, Community Trust & Investment Co. raised its holdings in Fifth Third Bancorp by 7.6% during the 4th quarter. Community Trust & Investment Co. now owns 83,507 shares of the financial services provider's stock valued at $3,531,000 after buying an additional 5,912 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.